Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Rating of “Hold” by Brokerages

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have received an average rating of “Hold” from the sixteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $48.64.

AAP has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Truist Financial decreased their price target on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a report on Friday, November 15th. Evercore ISI boosted their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. The Goldman Sachs Group reduced their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Mizuho restated a “neutral” rating and issued a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th.

Advance Auto Parts Stock Performance

Shares of NYSE:AAP opened at $44.98 on Monday. The business has a fifty day moving average of $39.51 and a 200-day moving average of $50.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts has a twelve month low of $35.59 and a twelve month high of $88.56. The firm has a market cap of $2.69 billion, a PE ratio of 61.62 and a beta of 1.21.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the business posted ($0.82) EPS. The company’s revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Advance Auto Parts will post -0.51 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.22%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 136.99%.

Insider Activity

In other news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the sale, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Advance Auto Parts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Advance Auto Parts in the 3rd quarter valued at $14,684,000. Wolverine Asset Management LLC increased its position in shares of Advance Auto Parts by 212.4% in the third quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock valued at $1,223,000 after acquiring an additional 21,320 shares during the last quarter. Quest Partners LLC bought a new stake in Advance Auto Parts during the third quarter worth about $579,000. BW Gestao de Investimentos Ltda. bought a new stake in Advance Auto Parts during the second quarter worth about $7,916,000. Finally, FORA Capital LLC acquired a new position in Advance Auto Parts during the third quarter valued at approximately $2,144,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.